There’s a good petition to save the U.S. Post Office–as I’ve discussed before, most of its financial problems stem from Congress’ ridiculous requirement that it provide 75 years of retirement benefits in ten years. Worse, USPS has probably paid $50 – $100 billion more into the retirement fund than it needed too. Of course, Congress won’t give that money back.
Anyway, the White House petition:
Save the Postal Service-Save American Jobs
About 80% of USPS financial losses since 2007 are due to a Congressional mandate to prefund 75 years of future retiree health benefits over 10 years. In 2012 USPS lost a record $15.9 billion, but $11.1 billion of that loss went to prefund healthcare. This must change.
USPS shouldn’t move to 5-day delivery. This would only save 3%, risk further revenue losses, and slow mail delivery.
USPS needs to re-establish overnight delivery standards to ensure the timely delivery of mail and prevent the closure of mail plants.
USPS needs to generate more revenue by ending a 2006 ban prohibiting USPS from offering new products and services.
Does the Administration support HR 630 and S 316 to make these changes, save American jobs, and allow USPS to remain competitive?